We were approached by a global vehicle manufacturer to find a solution to the issues caused by manually processing applications from car dealerships across Europe. The system previously in place typically led to inefficient and inconsistent decision making – which is the most important element of any underwriting team.
Issues caused by manually processing applications
As explained by the client, once a credit check request was made by a car dealership, the central underwriting team had to carry out a number of manual tasks. This resulted in a slow turnaround that had a negative impact on the end customer’s experience.
The main areas of manual work that needed to be addressed were:
- Bank statements, payslips and/or proof of income.
- Inputting customer bank data information into Excel and plotting the end of day (EOD) balances during the provided period.
- Extraction of end customer income data and providing a wider view on longer-term trends.
Download our case study to keep reading about how we created a customised solution that simplified the process for the end customer, dealerships and underwriting team.